Assigned Deed - How exactly does it work?

[Seaport104]

I currently have a fixed week 26 in Virginia Beach that under any circumstance do NOT want to convert to points and give up my deeded week. According to DRI sales rep, I can have the added option of converting my week into points in the years I will not be using my week 26 (similar to Marriott's enrolled weeks) and still maintain my right to my deeded week.

Of course, they did not provide details so I researched the issue on tug and here are my take aways-

- This set up is called an "assigned deeded week"
- I will continue to pay the same MF's on my "assigned deeded week" PLUS Club fees on the points value of my week 26. In reading through past threads, this is a base fee plus a .xxxx per point. Therefore, my MF's will increase even if I don't ever elect points on my week 26.
- According to sales rep, I have to affirmatively elect to turn my fixed week 26 into DRI points for the year but some of the posts I've read contradicts this but it wasn't clear to me if those were weeks converted into points or this "assigned deeded week" arrangement. So how does it actually work in this scenario?

Thanks in advance!

 

[clipper]

I guess I have an "assigned deeded week". I did not know that's what it is called. We purchased from Sunterra before it joined DRI, a long time ago when there were no "collections" yet. We signed the paperwork to own a deeded week and deposit our week into the Club every year with the understanding that we don't have to do it annually. It has just worked better for us that way so we do the same thing every year. We don't fill out a form or call every year, it automatically happens every year. We mostly trade in II unless the destination we want is available with DRI. We are satisfied with our trades with II, although we have to submit an ongoing search each time and then hope that a match is found before we need to buy our airfare.

We also own a deeded week at another resort with DRI. There was an offer to convert this week to points some years ago but we did not go for it. We were told that we would get 2x the DRI points we receive for the deeded week. We have been exchanging this one with II through a separate II account. It costs us extra for membership fees but since it is a 2-bedrooom lockoff and II allows us to split them into a 1-bdrm + 1 studio on the years when that would work better for us.

Hope this helps!

 

[Seaport104]

I guess I have an "assigned deeded week". I did not know that's what it is called. We purchased from Sunterra before it joined DRI, a long time ago when there were no "collections" yet. We signed the paperwork to own a deeded week and deposit our week into the Club every year with the understanding that we don't have to do it annually. It has just worked better for us that way so we do the same thing every year. We don't fill out a form or call every year, it automatically happens every year.

Thanks for the reply. I was told the opposite. That I would retain my week every year and I have to elect to have points. I think what you have is different bu then again, I dont know DRI very well and am basing it off what I read on tug; hence my post.

 

[clipper]

If we did not sign the document to join the Club and convert into points when we purchased, we would have retained the week every year too. I imagine we would have to notify them every year to convert into points. I use the phrase "converting into points" synonymous to "being a member of the Club". I think it cost extra every time you joined the Club so it was easier to renew/stay with the Club every year to have the privilege of banking our points forward and using our points in advance as well.

It's hard to tell because there have been layers of changes to DRI membership since we purchased. The membership, as we purchased it, may not be offered anymore. Hard to tell, really. For example, I have not tried to deposit our lock-off timeshare into DRI because I thought it would be permanently converted into points. We have a separate DRI account for this timeshare, strictly deeded, no points. With the new product "Destination Exchange", maybe I can deposit it on selected years. Like you, I prefer to own deeded weeks. I haven't been able to read all about Destination Exchange so I continue with what I know.

 

[goaliedave]

If we did not sign the document to join the Club and convert into points when we purchased, we would have retained the week every year too. I imagine we would have to notify them every year to convert into points. I use the phrase "converting into points" synonymous to "being a member of the Club". I think it cost extra every time you joined the Club so it was easier to renew/stay with the Club every year to have the privilege of banking our points forward and using our points in advance as well.

It's hard to tell because there have been layers of changes to DRI membership since we purchased. The membership, as we purchased it, may not be offered anymore. Hard to tell, really. For example, I have not tried to deposit our lock-off timeshare into DRI because I thought it would be permanently converted into points. We have a separate DRI account for this timeshare, strictly deeded, no points. With the new product "Destination Exchange", maybe I can deposit it on selected years. Like you, I prefer to own deeded weeks. I haven't been able to read all about Destination Exchange so I continue with what I know.

Yes Destination Exchange is the less costly (compared to RCI, II, TP, etc) internal exchange program. You choose annually whether to keep your week or exchangef similar to II.

I had similar with my Shell VC (now Wyndham) deeds... withdrew from their club and traded them into Diamond for more weeks at lower cost. Assess all options considering your unique circumstances.

The other good thing about Diamond's exchange programs, is if you call the Destination Exchange or Sampler numbers you can get locations not available "officially" / online.

Sent from my SM-A505G using Tapatalk

 

[csalter2]

Diamond has a vast array of deals that are offered to weeks owners when their old companies flop and DR takes ownership of their properties. There are a number of places in which DR offers deeded owners the option to keep their deeded week and switch to points when they so desire. That has been reported here by a number of owners here on TUG. Your week would be valued at 8,000 or 10,000 points for example. However, they NEVER give up the deed and it’s just an option to choose when desired. However, it is important that all of the terms and conditions are in the contract so if there is any mix up, there will not be a mix up.